BMW cancels USD 2 bn battery cells contract with Northvolt – ET Auto

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BMW cancels USD 2 bn battery cells contract with Northvolt – ET Auto


“The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe,” it said.

German premium carmaker BMW said on Thursday it had cancelled a 2 billion euros (USD 2.15 billion) order for battery cells for its electric vehicles with Northvolt.

German media, including manager magazin, reported that the Swedish company could not deliver on time on a long-term supply contract for battery cells signed in 2020.

“Northvolt and the BMW Group have jointly decided to focus Northvolt’s activities on the goal of developing next-generation battery cells,” said BMW.

“The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe,” it said.

Northvolt did not immediately respond to Reuters’ request to comment.

  • Published On Jun 21, 2024 at 10:49 AM IST

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